All Forum Posts by: Shain Ismailovski

This would be a judgement call on your end. You can have their parents co-sign as a precaution or simply tell them you require a credit score of "x" amount and not consider them.

There isn't much for you to do. Since you already agreed on it make sure to get in writing or text message form at the least that the tenant agrees to be out by the agreed upon date and can't extend it. Since you both agreed there isn't anything to really be concerned about.

@Robert Lei Yes, they're free for pro members

There's an app cold "Hiya" that will automatically block spam callers.

Hi Spencer getting your license is a helpful to learn the industry a bit better, but just know the process to get started can be more costly than some expect. Paying for licensing courses, state tests, MLS dues, and a variety of other fees can add up, especially the yearly or bi-yearly renewal fees for licenses, Realtor associations, MLS fees, and various admin fees . Also it does take time to build your business and months could pass before you complete one deal, sometimes longer.This is where those fees can sting if you're not actively closing deals and making money. It's a tough road, but it does give you the benefit of seeing everything your local MLS has to offer. You can also make connections with various lenders and other agents easier. Measure out the pros and get an idea for the costs before you commit. Best of luck!

I would wait until you have to as this will effect the cash flow you are receiving from your rent. It is good to be proactive with things like this but if there is no urgency I would wait until you have some funds from the rent built up before replacing the roof. You can use your money now to update more tenant facing features of the unit aka the cosmetic end but I would wait a few more years before taking action on the roof.

My advise would be to look at similar homes in the area that have sold and observe what they have that your home does not. Sometimes it is a simple as a fresh coat of paint and new appliances. Bathrooms and kitchens are some of the areas that new home buyers pay the most attention to so focusing on these rooms can help add value to the home. Sites like Zillow are a great resource because you can look at all the sold properties along with pictures. Paramus is a very attractive market. Don't go too overboard with modifications and improvements at risk of losing more money than you'd make. 

Depending on the size and desire you may be able to rent it fairly successfully since it is a full home with no shared indoor space. I wouldn't be discouraged by the property. If it makes sense and there is a market for it in your area then it is no different than getting a 3 unit home. 

It is usually a few weeks to get a court date depending on the court's docket. The entire process itself can take anywhere from weeks to months to complete. 

A good accountant who knows the business I probably one of the most important members of your team. You can cut costs on a lot of things, but I wouldn't recommend it for this.